What is the rate of bonus tax and how will it impact on my home remuneration?

Bonus tax rate is a percentage that your employer will deduce when you are given an additional pay in form of a performance bonus, holiday bonus or commission pay out. The IRS in the U.S gives employers the freedom to withhold a fixed rate of bonuses that do not exceed 22 percent of a bonus that exceeds 1 million dollars as well as social security, Medicare and any state tax. This is not your total tax bill but just a down payment to your total tax bill. You are likely to receive part of it when you make your filing. Knowing the bonus tax rate will assist you in planning in a more financially sound way and considering the chance such as Ecryptobit.com NFT investments.